Hedge Funds to sue FSA

(Telegraph UK): A group of the world’s biggest hedge funds are planning to sue the UK Financial Services Authority for millions of pounds of losses incurred as a result of the regulator’s ban on short-selling last week. Lawyers are being galvanised on behalf of a raft of hedge funds which claim the financial watchdog has illegitimately extended its powers and caused "wide-spread capital destruction." Go to article. Go to article.